The President of Nigeria, Bola Tinubu has tasked Finance Minister Wale Edun with determining the financial implications of a new minimum wage within two days.
This order was issued during a meeting at the presidential villa in Abuja, attended by the government’s negotiation team, led by Secretary to the Government of the Federation, George Akume.
Minister of Information and National Orientation, Mohammed Idris, disclosed this after a closed-door session on Tuesday.
Idris stated that the President had convened a meeting with Federal Government representatives involved in wage negotiations with labor unions.
He added, “The president has called for a meeting of all federal government negotiators, including the secretary to the government of the federation, the finance minister, the budget planning minister, the information minister, the minister of budget and national planning, the labor minister, and the NNPCL GMD. The president instructed the finance minister to provide the figures within two days for labor negotiations.”
Idris emphasized the President’s dedication to the committee’s decisions and the welfare of Nigerians, noting that the government supports wage increases but seeks to balance its commitments with realistic considerations.
Moreover, President Tinubu instructed government representatives to work with the private sector and regional entities to create a new, sustainable wage structure for Nigerians.
Idris explained that the President seeks a collaborative effort from federal negotiators, private sector representatives, and regional bodies to establish an affordable and realistic new wage.
Idris also assured that a new minimum wage proposal would be ready within a week. The negotiation team includes the ministers of finance, budget and national planning, labor, and information, as well as the group managing director and CEO of the Nigeria National Petroleum Company Limited.
After discussions with labor leaders, the Nigeria Labour Congress and Trade Union Congress called off their five-day strike, which had been in response to the Federal Government’s failure to approve a new minimum wage by May 31.
The government has committed to raising the minimum wage from the current N60,000.
